More than 60 delegates representing 28 MONEYVAL members and 5 observers attended the annual MONEYVAL Typologies meeting which took place virtually on the 28th of September 2021. Led by Poland, the project team consists of experts from Armenia, Estonia, Guernsey, Latvia, Slovenia, the Russian Federation, the FATF Secretariat and EAG Secretariat.
The COVID pandemic generated new threats and vulnerabilities to the AML/CFT system. Supervisors have faced new challenges, mainly related to the proper assessment of emerging risks and communication with the obliged entities on appropriate mitigating measures to be taken.
MONEYVAL is finalising a typologies report on this issue, which provides an overview of the measures that supervisors took to continue their AML/CFT monitoring under the restrictions generated by the pandemic. It outlines best practices identified in the MONEYVAL jurisdictions as well as in the broader Global Network, which can be used in times of crisis and challenging external factors.
During the typologies meeting, the project team gave a detailed presentation of the content of the report.
Following this meeting and using the output of the debates, the project team together with the Secretariat will finalize the Typologies report, with a view to its adoption by the MONEYVAL Plenary meeting in December 2021.